Megacap Tech Stocks to the Rescue!?
It's been a brutal first half of the year but a STRONG July.
The NASDAQ 100 was up 13%, its best month since April 2020 (Covid Rebound).
We had a massive earnings week.
But is tech a silver bullet?
A Magic Unicorn?
Maybe not… 🧵👇
We had all the megacap tech names report last week, all while having GDP figures come out and an all-important Fed meeting.
While we’ll leave it to economists to squabble over the definition of a recession, let’s look at tech earnings and MACRO READTHROUGHS…
First up, on Tuesday we had Google
$GOOGLAll eyes into the print here were on gauging how strong the advertisement market was.
Recessions = Less people buying stuff = Companies pullback on Ad budgets
Google also has less exposure to the big privacy change at Apple (IDFA).
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